These Terms of Use (the "Terms") describe your terms and responsibilities when using the various services
offered as a part of our online service "VALU" (the "Services") operated by VALU Inc. (the "Company",
"we", "our", "us") In order for users of the service (the "Users") to use the Services, they must first
agree to the entire Terms (hereinafter including all rules, guidelines, privacy policies of the Service if any). Once Users begin using the Services, they are deemed to acknowledge the understanding
and have agreed to the Terms.

I General Provisions1. Content of The Services

As a part of the Services, Users can issue their own VALU (Users who issue VALU are known as "Issuers"), and can increase Users' fans who purchase their VALU (the "VALUERS"). Users can purchase other Issuers' VALUs, and by becoming a VALUER, they can support the Issuer as well as interact with the Issuer by receiving limited information and/or utilities if offered. VALUs that are purchased by Users can be transferred between Users. For example, if User A acquires VALU issued by Issuer X and then transfers such VALU to User B, User B becomes a VALUER of Issuer X.

We provide and operate the environment in which Users can issue VALU and in which Users can make purchase and/or sale of VALU between Users. The sale and purchase of VALU between Users and the due performance of utilities are entirely the responsibility of the concerned Users and the Company has no liability in relation to such activities between the Users for we will not sell or purchase VALUs nor act as a consignee for such.

In a case that a certain User has entered in separate agreement with us and such User issues VALU in accordance with the said agreement, purchase and sales of such VALU (“Approval-VALU”. VALU includes Approval-VALU.) shall be subject to the approval of the Issuer. For example, if User A has the Approval-VALU of Issuer X and would like to purchase more or sell such Approval-VALU, the request for approving the purchase or sales by User A will be notified to Issuer X. Issue X can decide by his/her sole discretion and responsibility to approve such request or not.

For VALUERS, VALU is designed to express support for the Issuer, and show that VALUERS have a special
status. The Issuer can, at its own discretion, offer utilities to his/her VALUERS in accordance with
the Terms.

VALU IS NOT A TYPE OF SECURITIES INCLUDING SHARES, PREPAID PAYMENT INSTRUMENT, LEGAL CURRENCY,
NOR CRYPTOCURRENCY. VALU cannot be used on anywhere other than the Services in accordance with
the Terms. At the first issuance of VALU, the initial value is determined by factors including
the number of followers that the Issuer has on the linked social media. Once issued, the Users
make sale and purchase of the VALU by the market price. Therefore, depending on the popularity
of the Issuer, the market price of VALU issued by such Issuer may rise or fall. For the Users
use the bitcoins (the "BTC") for purchase and sale on the Services, there is a financial risk of
the BTC's volatility that affects the market price of the VALU on the Services. In addition, in
a case that the Issuer of VALU cancels the membership of the Services or is restricted in the
use of the Services by the Company in accordance with the Terms, there is a risk of losing an
entire value of the owned VALU.

Any completed sales or purchase transactions of VALU cannot be cancelled, regardless of the reason. The
Company and Users have no obligation to purchase VALU or make a refund of the payment for purchasing
VALU, unless otherwise stated in the Terms. When purchasing VALU, please ensure that you are fully
aware of the risks regarding price volatility as stated above and enjoying transactions of VALU from
the perspective of supporting the Issuer as a fan.

Users can block other user(s). The blocked User cannot view profile and posts of the blocking User, and
purchase the blocking User’s VALU if the blocking User has issued his/her VALU. (If the blocked User
already has the blocking User’s VALU prior to the blocking, the blocked User can sell such VALU; provided that such VALU is Approval-VALU, the blocked User shall acquire the approval of Issuer for such sales.)

We use the term “VA” as a unit for VALU in the Service.

2. User Registration

You cannot be registered as a User if you do not possess either a telephone number or an identification
card authorized by governmental institution. If you are underage under the applicable laws and regulations,
you cannot use the Services without acquiring the full consent of your legal guardian(s). In order
to transfer the BTC out of or into the Services, you need to have a BTC wallet operated by a third
party. This Services do not include a function of exchanging BTC to cash or a BTC wallet function.
Users can use any third parties' service for such function. BTC is not a legal currency and you have
a risk of financial damage due to its volatility. Before using BTC for the Services, please ensure
that you are fully informed of such risk by the cryptocurrency exchange service provider. If the
Company deems it necessary, we may request the submission of further necessary documentation or information
from those who apply for User registration.

The Services are not available in the United States. We cannot provide the Services under the applicable
laws of the United States if you are a U.S. citizen and/or a green card holder of the United States.

Please apply for User registration by yourself. All and any information provided during the User registration
is deemed to be accurate and the Company does not warrant nor represent the accuracy of User-provided
information. Possessing multiple accounts of the Services is strictly prohibited.

The Company may, with its full discretion, approve or reject the application for User registration. Even after the registration
the Company can revoke the User registration if the Company deems it necessary. User registration
may be rejected or revoked if:

the application does not fulfill the requirements stated in 2.1.;

the Company deems that a membership has been created or an application for
membership has been made using another person’s details;

all or a part of the User information provided to the Company during registration is
found to be inaccurate, untrue, incorrect or incomplete;

the Company deems that a person attempts to make multiple accounts of the
Service;

the Company deems that the User does/may obstruct or cause hindrance to the
operation or provision of the Services or using the Services by other Users;

the User is underage, an adult ward, a person under curatorship, or a person under
assistance, and has not acquired the consent of his/her statutory agent, guardian,
curator, or assistant;

the Company deems that the User belongs to any antisocial forces, etc., or has any
contacts or involvement with such antisocial forces, etc. by any means including
supporting or being involved with operation or management of the antisocial forces, etc.
by providing financial supports, etc. (The antisocial forces is hereinafter defined as
an organized crime group, a member of such group, a right-wing group, and any other
derivative group. However, it is difficult to define such in a limited and uniformed
term as the formation of such forces varies and changes in accordance with the timely
social circumstances.);

the Company deems that the User is involved in a business that commoditizes
information or provides similar services; or (i) the Company deems to be inappropriate
for any other reasons.

The Company is not responsible for and held harmless from any damages that is caused because of the User
registration or changing registered information by the User, or the rejection of the User registration
by the Company.

3. Revocation/Suspension of Membership

The Company may, without any prior notice, revoke or suspend the User’s membership for the Services, suspend the User’s use
of the Services, or repeal VALU issued by such User. If the User’s membership is revoked, the VALUs
in the possession of, or issued by such User will be invalidated, and cannot be reacquired, if the
Company deems that:

the User has violated laws and ordinances, the Terms, or any other guidelines for the Services
set forth by the Company;

the User has fraudulently used or allowed someone to use his/her own User ID or password of the
Services;

the User is found to fall under any of the categories set forth in 2.4.;

the User has acted disrespectfully or disruptively to other User(s);

the registered cellphone number or email address of the User becomes invalid

the registered BTC wallet is found to have any issues including illegal use or a risk of such
issues;

the User has not used the Services for a period set forth by the Company; or

the User has used the Services for any other fraudulent purposes, or there is a risk of such
use.

The Company can, at its sole discretion, withhold sending BTC to the User's account if the receiving
User's membership is suspended or revoked or such User's VALU is invalidated and there is an outstanding
BTC transaction to send BTC to such User, or if the receiving User is suspected of being involved
in any illegal activities.

The Company is not responsible for and held harmless from any damages incurred by the User due to the
Company's action in accordance with the Terms, except a case that such damages are caused due to
the Company's intention or gross negligence.

4. Management of User ID and Password, Membership

The User is solely responsible for managing and storing his/her own User ID, password, identification
information, and etc. issued by the Company. The Company shall be held harmless from the damages
incurred due to the User's insufficient management of his/her User ID, password, and/or identification
information, and as a result of suspension and so on of the User’s account of the social network
service(s) that are linked to the Service

Membership and the right to use the Services belong to the original User only and cannot be used by,
assigned to, lent to, or put in collateral, or inherited by any other persons including the User's
heir. The Company shall be held harmless from the damages incurred due to the abuse by a third party
of his/her User ID, password, and/or identification information.

The User shall immediately notify the Company and follow any instructions given by the Company in a case
that a User ID and/or password become known to a third party or that the User ID and/or password
may have been used by a third party. The Company can suspend the use of such User ID and/or password
by its sole discretion.

VALU can be purchased between Users including Issuers, VALUERS of such VALU, and Users who want to become
VALUERS only within the Services in accordance with the Terms (upon approval by the Issuer in a case of Approval-VALU). As VALU represents a status of supporting
the Issuer by the VALUER, VALU becomes invalid at the time when the Issuer of such VALU or the VALUER
passes away. Users acknowledge and agree that VALU cannot be inherited.

5. User's Warranty and Representation

Users warrant and represent that they are not and will not be involved in any kind of antisocial forces.
Users also warrant and represent that they will not commit violent acts of demand, make improper
demands that exceed legal responsibility, use threatening language or behavior or violence regarding
transactions, defame reputation or obstruct the business operation of the Company by spreading rumor
or using fraudulent means or forces, or perform any actions equivalent to foregoing items.

6. Withdrawal of VALU and Membership

Users may withdraw issued VALU or from the membership of the Services in accordance with the procedures set forth by the
Company.

In a case that the User has not issued VALU and wishes to withdraw from the membership,
such User may do so by notifying the Company of its intention of withdrawal via the
customer support or by applying from the designated form by the Company.

In a case that the User has issued VALU and wishes to withdraw issued VALU (but not from the membership), such User may withdraw the issued VALU after the probationary period of 3 months after notifying the Company of its intention of withdrawal, except (i) that the User has set the special privileges and such privileges are not fulfilled/performed, (ii) that the User informs its VALUERS of the plan of setting the special privileges but has not set such, or (iii) that the User has issued and sold the Event Ticket(s) (defined below) but the Event of such Event Ticket(s) has not been performed. The Users may withdraw the issued VALU only after setting/fulfilling such privileges or performing the Event. If the User withdraw the issued VALU, such User may not issue VALU again.

In a case that the User has issued VALU and wishes to withdraw from the membership, such User
may do so after the probationary period of 3 months after notifying the Company of its intention
of withdrawal, except that the User has set the special privileges and such privileges are
not fulfilled/performed or that the User informs its VALUERS of the plan of setting the special
privileges but has not set such. The Users may withdraw from the membership only after setting/fulfilling
such privileges.

In a case that the User has set the exit privileged, such User shall provide or perform
such privileges to its VALUERS immediately or within the period set forth in the exit
privilege.

During the probationary period, the notification of the planned withdrawal of VALU or membership
will be displayed on MY VALU of such User.

It is the User's sole responsibility that the User sells any remaining VALU of other Users or transfers
any remaining BTC from his/her accounts. The Company may, at its full discretion, invalidate any
remaining BTC and/or VALU at the time of withdrawal from the membership.

The company shall not be held responsible for any damages incurred by the Users due to any measures in
accordance with 6.1. or 6.2., except that such damages are caused intentionally or by gross negligence
of the Company.

VALUERS acknowledge the risk that the Issuer may withdraw the issued VALU or from the membership and
the owned VALU of such Issuer will be invalid at the time of withdrawal after the probationary period
of 3 months.

VALU becomes invalid and disappears at the time when the Issuer of such VALU passes away. If VALUER passes
away, any VALUs owned by such VALUER become invalid and disappear. In a case that there is a remaining
BTC in a account of the User who passes away, the Company provides reasonable supports necessary
for succeeding such BTC by inheritors only if the full consent by all inheritors is confirmed with
a proof.

7. Management of Personal Information

The Company may use any personal information provided by Users, within the scope that is required
to provide the Services and within the scope of the purposes set forth in the privacy policy.
Users consent to the management of their personal information by the Company, in accordance with
the Company's privacy policy.

For purposes such as for offering special privileges and/or holding the Event(s), the Company may, with the User’s consent, provide personal information to other Users through the Services. Users may only use personal information for the purpose of providing special privileges. Any other use of the personal information is strictly prohibited.

The submission and provision of personal information as outlined in the foregoing paragraphs, are
based upon the consent of the User. The Company shall not be held responsible for any troubles
or damages incurred by Users due to providing or submitting personal information, or from its
use of such personal information. Provision of data from Users to other Users shall be performed
only if the Users have a full understanding of and the content to this paragraph.

In a case that the Company receives the request for information from governmental bodies, financial entities, bar associations, etc., the Company may disclose personal information of the User that is subject to such request for information.

8. Prohibited Actions

In relation to the use of the Services, The Company prohibits Users from the actions listed below and listing and selling Event Tickets of the Events on the service that is related to such actions. If the Company discovers any actions by the Users that may fall into any of the following categories, the Company may, without any prior notices, revoke or suspend the User’s membership, suspend the User’s right to use the Services, invalidate VALU issued by such User, or any other actions that the Company deems necessary.

Violating any applicable laws (including Act on Specified Commercial Transactions, Act against Unjustifiable Premiums and Misleading Representations, and Consumer Contract Act), the Terms, or any rules or guidelines set forth separately by the Company.

Infringing upon public order and morals.

Obstructing the Company's service operations.

Actions that are connected to fraud or other crimes.

Posting untrue or deceptive information (including misrepresentation of the sex).

Actions that call for the purchase of VALU by making guarantees about price increases of
VALU, etc., make other Users prejudge the rise or fall of VALU's price, attract a purchase
of VALU by making other Users' misunderstanding, or manipulate the VALU's price that
is out of actual market situation.

Setting a monetary, financial, or physical condition required for receiving a special privilege,
other than owning the designated number of VALU described in a detail of the special
privilege on the Services.

Requiring monetary, economic, or any other physical burden as a condition for approving or disapproving the purchase or sales of Approval-VALU.

Requiring a purchase of VALU of the User's own or other Users as a condition for purchasing
a certain User's VALU or providing a certain service to the purchaser out of the Services,
by any means that may improperly attract Users to purchase VALU.

Purchasing VALU of the User with knowing information that falls into any of the categories
below from other sources than the available information on the Services, before such
information becomes publicly available to all other Users on the Services:

A plan to purchase or sell its own VALU by Issuers

A plan to set a special privilege

Withdrawal from the membership

A plan to purchase or sell VALU by VALUERS

A plan to sell the Event Ticket(s) by Issuers

Any other information that may significantly affect User's judgment of purchasing
or selling VALU

Actions that violates rules set forth by 10.3., 11.5., or 19. and later, or makes arbitrage of such rules.

Planning, evaluating, preparing, or performing actions that may falls into any of the proceeding
(6) to (10) items, with or without other Users, including communications on other social
network services.

Actions that the Company deems an abusive use of blocking, including sudden blocking of numerous
VALUERS and demanding any actions to other User(s) in relation to blocking or unblocking.

Providing an item whose value is significantly apart from the price of VALU necessary for
receiving such item as a special privilege, or providing such item with informing VALUERS
of its market price.

Claiming financial or monetary benefit that VALUER may receive in relation to a special privilege,
in a way that the Company deems improper in a view of the Services' policy.

Re-selling the Event Ticket.

Setting price of the Event Ticket unreasonably high or low, or improperly attracting Users to purchase or sell VALU in relation to the sales of the Event Ticket.

Providing dividends to VALUERS or shares of assets from the business that the Issuer operates
by the budget gained from the issuance of VALU.

Actions that infringe upon the rights of the Company, Users, or any other third parties.

Actions which defame or slander others.

Impersonating as others, or using another person's account of the Services.

Actions intended to ethnically, racially or otherwise discriminate against others, or which
may incite discrimination (including but not limited to multi-level marketing business,
sales of commoditized information, etc., or recruitment of others to such business).

Actions related to election campaigning.

Actions which have a negative influence on the functions of computer equipment, communication
lines, or software, such as the transmission of computer viruses.

Unauthorized access to systems related to the Services.

Actions with the purpose of money laundering.

Actions which suggest or demand prostitution or other sexual services.

Acting for another person for his/her issuance, purchase or sale of VALU.

Actions that are defined as gambling.

Posting special privileges without providing specific details about their contents (i.e.
posting "I'll do anything", "I'll only provide details via email", or "Contact me if
you want to do online work as a side job", or posting content in a way that attempts
to hide details or uses a secret language).

Actions which involve committing violent acts of demand, making improper demands that exceed
legal responsibility, use threatening language or behavior, or make use of violence,
spread rumor, or use fraudulent means or force to damage the company's reputation or
disrupt the company's operations, either directly or through a third party.

Using the Services for the purpose of acquiring the funds for gaining securities, cryptocurrency,
or any equivalent objects, or claiming such purpose in relation to the Services within
or out of the Services.

Providing advice on investment in cryptocurrency.

Actions which the Company deems possibly falling under any of the above items.

Any other actions which the company deems to be inappropriate.

The Company may take any measures that the Company deems necessary for protecting Users in accordance with 8.1., including
the following actions. The Company may apply any of the following actions to not only the User(s)
who conducts violations but also any Users to the extent necessary for protecting Users.

Publicly announcing details of the violation(s) occurred on the Services

9. Issuance of VALU

Users may issue their own VALU by paying a ￥500 (plus tax) issuance fee per transaction. The issuance
means gaining VALU by the Issuer after determining the content and number of VALU, prior to the
sales or purchase of VALU set forth in 10. However, the Company may issue VALU free of charge
for a limited period when the Services first begins to be offered. The issuance fee can be paid
by a credit card or in BTC.

In order to issue VALU, Users shall first pass the Company's screening process. If you are authorized
to issue VALU as a result of the screening (screening will take approximately 3 business days),
the above mentioned issuance fee of ￥500 (plus tax) will be charged. If you are not authorized
to issue VALU, you will not be charged an issuance fee. After the issuance fee has been charged,
the issuance fee cannot be cancelled or returned for any reasons.

Any Users who had withdrew the issued VALU before cannot re-issue VALU, unless otherwise specifically
approved by the Company.

The Company makes no guarantees regarding the results of the screening, and shall not be held responsible
for damages caused to Users due to not being authorized to issue VALU, except for situations
caused intentionally or by gross negligence of the Company. The Company is not obliged to disclose
the detail and reason of the screening.

The Company conducts the screening with general consideration of information available from User registration, the connected
social network services, and other sources. The reasons for not authorizing issuance of VALU
includes a case that:

the Company deems that all or a part of the connected account of social network services
are not personal account of the User's own (including the accounts for enterprise, brands,
or services that the User operates);

the Company cannot find enough activities on the social network services;

the Company deems that the User is about to or has impersonate(d) others;

all or a part of information provided at the User registration includes incorrect, false,
miswritten, or lack of information;

the Company finds difficult to judge due to the lack of information provided at the User
registration;

the User who applied for issuance of VALU has a record of penalty on the Services for violating
the Terms or any other reasons;

the Company deems that the User has or will obstruct(ed) the operation of the Services or
the Company or the use of the Services by other Users;

the User is underage, an adult ward, a person under curatorship, or a person under assistance,
and has not acquired the consent of his/her statutory agent, guardian, curator, or assistant;

the Company deems that the User belongs to any antisocial forces, etc., or has any contacts
or involvement with such antisocial forces, etc. by any means including supporting or
being involved with operation or management of the antisocial forces, etc. by providing
financial supports, etc.;

the Company deems that the User is involved in a business that commoditizes information or
provides similar services; or

the Company deems to be inappropriate for any other reasons.

9-2. Dividing VALU

The Issuer may request for dividing VALU by following the procedure set forth by the Company. Dividing
VALU means dividing all VALUs by the same ratio. (The maximum and minimum ratio for dividing
is set separately in the transaction rule by the Company.) For example, if you divide VALU by
the ratio of 10 times, 10VA before the dividing will become 100VA after the dividing. As all
VALUs (including VALUs owned by the Issuer and VALUERS) are divided by the same ratio, overall
value of VALUs owned by the Issuer or VALUERS does not change.

The Company retains the full discretion for the review and judgment about the Issuer's request for
dividing VALU, and VALU can be divided only if the Company approves to do so. The maximum number
of VALUs set forth in the transaction rule by the Company applies to the number of VALUs after
the dividing. The Issuer may not divide its VALU to exceed such maximum number. The Issuer may
not request for another dividing of VALU for the limited period set forth in the transaction
rule by the Company.

The Company makes no guarantees for the result of reviewing the request for dividing VALU, and shall
not be held responsible for any damages incurred by the User in relation to not being authorized
for dividing VALU, unless such damages are caused intentionally by or by a gross negligence of
the Company. The Company is not obliged to disclose the detail and reason of reviewing the request
for the dividing.

In a case that VALUs are divided, the Issuer of such VALU shall pay the dividing fee set forth in
the transaction rule by the Company to the Company.

In a case that the Issuer has set the number of VALUs as one of the conditions to receive a special
privilege, such number will be adjusted to reflect the dividing. The Issuer shall perform the
special privilege in accordance with the adjusted condition. As such adjustment is informed in
the detail of the special privilege, VALUERS shall check and acknowledge such adjustment as his/her
sole responsibility.

In a case that the VALU that is subject to the dividing is listed for the sales or purchase and the
sale or purchase is not confirmed at the time of the dividing, the Company will cancel such listing
for the sales or purchase at the time of the dividing in the view of protecting Users.

10. Purchasing and Selling VALU

If you are authorized to issue your VALU as outlined in 9., you will immediately be able to offer it for sale through the
Services, and it will become available for other Users to purchase. (The blocked User cannot purchase
VALU of the blocking User.) As well as issuing new VALU, Users can also sell other User's VALU that
they possess. Approval-VALU requires the Issuer’s approval for purchase or sales of such Approval-VALU. User shall not put any monetary, economic, or any other physical conditions for purchase or sales of Approval-VALU. All purchase of VALU will be performed using BTC through the online payment system.
VALU cannot be purchased using credit cards, cash, or other forms of payment. After a VALU transaction
has been confirmed between Users, the fees described in the table below will be charged to both the
purchasing User and selling User.

Table for Transaction Fee

Purchase

Sales

VALU issued by the User himself/herself

1%

10%

VALU Issued by another User

1%

1%

Users who wish to sell VALU shall provide the Company or a payment service designated by the Company
(hereinafter "Payment Recipient") with the right to act as a receiving proxy for the VALU purchase
price. When the Payment Recipient receives the purchase price of the VALU from the User who wishes
to purchase, payment of the purchase price is completed. The purchase price will be paid to the User
who sold the VALU from the Payment Recipient via BTC transfer, after the Company's specified transaction
fee is deducted. Any completed sales or purchase transactions of VALU cannot be cancelled once completed,
regardless of the reasons.

For the purpose of protecting User's interest, the Company is setting the transaction rule regarding
the number of VALU per transaction, the number of transactions, scope of sales price, withdrawal
of BTC in relation to sales and purchase of VALU. The Users shall comply with the transaction rule
set forth by the Company. The Users shall acknowledge and agree prior to the use of the Services
that the Company may change, add, and update such transaction rule at any time in the view of protecting
Users.

If the Company deems that there is a violation of the Terms or otherwise inappropriate actions regarding
the issuance or sales/purchase of VALU, the Company may limit or revoke the issuance or sales/purchase
of the VALU, invalidate any issued VALU, or take any measures set forth in Section 8. The Company
shall not be held responsible for any damages incurred by Users due to any measures taken by the
Company in accordance with this paragraph, unless such damage is caused intentionally by or by gross
negligence of the Company.

Users shall acknowledge the possibility that sales and purchase of VALU is regarded taxable by the current
laws or future legislation and be fully responsible for such tax application in relation to sales
and purchase of VALU. The Company is not providing a legal support including providing advice about
taxation. Please consult with a professional by your own responsibility and expense if you have a
tax concern.

11. Special Privileges

Issuers of VALU may set special privileges including organizing fan events and sending special expressions
of gratitude to VALUERS. (The Issuer is not obliged to set special privileges.) The content of special
privileges can vary depending on the amount of VALU the VALUER possesses. Any legal relationship
in relation to special privileges is directly established only between the Issuer and VALUER, and
the Company never becomes the party of such special privilege agreement. When creating special privileges
please ensure that the special privilege is feasible for the Issuer. Please be aware that as more
VALU is issued, the number of VALUERS who can receive special privileges will increase, that VALUER
may acquire the special privilege even when purchasing VALU from other User who already received
the special privilege, and that the special privilege that is already acquired by the blocked User
prior to blocking will survive after such blocking.

When setting special privileges, the Issuer shall clearly state the timing of providing the special privileges
within the special privilege detail and comply with such timing for providing (performing) the special
privilege such as a limited event and expression of gratitude, etc. In a case that providing the
special privilege is delayed or not performed due to unavoidable reasons, the Issuer shall contact
and take any necessary actions for VALUERS. The Company shall not be held responsible for any delays
or defaults of obligations regarding the special privilege.

The User may choose to provide only one kind of the privilege after applying for withdrawal of
its VALU, and such privilege is called as the exit privilege. It is the User’s choice to set the
exit privilege or not. In a case that any details of the exit privilege is changed after the
initial setting, history of such changes is displayed on the Service.

If personal information is required to be provided for a special privilege, the User shall, with his/her
sole discretion, provide their personal information to other Users by the measure or messaging set
forth by the Company. Users who received the personal information of other User(s) are responsible
for managing such personal information and the Company shall not be held responsible for any damages
or troubles that may result from the use or leakage of such personal information.

If the Issuer is providing a physical object as a special privilege, such Issuer shall comply with all applicable laws including
Act on Specified Commercial Transactions and Act Against Unjustifiable Premiums and Misleading Representations.
If any of the following applies, the Issuer shall state the necessary information on his/her profile
page:

if the Issuer is a seller as defined in Act on Specified Commercial Transactions: notation based
on Act on Specified Commercial Transactions;

used item: Permit as a secondhand articles dealer; and/or

alcohol: Mail Order Liquor License.

The following items cannot be offered as special privileges. The Company may take any measures described in Section 8 including
announcement of violation, displaying on the User's page, suspending transactions of VALU or accounts
for the Services, if the Company deems that the User has or had offered the special privilege that
may fall into any of the following categories:

highly cashable objects or with objects with monetary rewards including cash, cryptocurrencies
such as BTC, and electronic money;

financial instruments including bonds, securities, insurance, etc.;

promise to purchase VALU of VALUER or another Issuer;

commoditized information;

products related to multi-level marketing;

digital contents that contain computer virus(es);

contraband goods (includes but is not limited to drugs such as narcotics, weapons, or other dangerous
items);

products or services which may infringe upon the rights of the Company, other Users, or third
parties (including but not limited to counterfeit goods, pirated goods, or fan-based derivative
works);

goods which have been procured through crimes such as theft;

items or services which infringe on public order and morals (including but not limited to items
related to adult or child pornography, obscene goods, and sexual services);

items which require a license to sell by laws (including but not limited to tobacco products
and pharmaceuticals) unless the Issuer has procured the required license for at their own
cost and under their own responsibility;

human bodies, organs, cells, blood, or any other related items;

living organisms; or

any other items which the Company deems to be inappropriate.

The Company has no obligation to provide advice to Issuers regarding the applicable laws or the requirement/acquisition
of licenses for the purpose of providing special privileges. Issuers are solely responsible for all
costs and obligations related to providing special privileges.

If acquiring VALU is required to be provided any products or services out of the Services, such products
or services are deemed as a special privilege and the Issuer shall comply with the Terms regarding
the special privilege.

11-2. Tip

Users may offer tips within the limitation set forth separately in the transaction rule by the Company
(hereinafter "Tip") to other Users, in a way to express the good impression toward the posting(s)
by other Users on the Services. Tip cannot be sent between Users either or both of which block the
other.

The maximum amount of Tip to be sent to a single post is stated in the transaction rule set forth separately
by the Company.

The User who wishes to send Tip to another User shall pay to the Company the transaction fee calculated
by the ratio and the amount of Tip that are set forth in the transaction rule by the Company.

Please understand that tips that are sent to other Users and related transaction fees are not refundable,
and decide to send a Tip or not within your sole responsibility and expense.

12. Disclaimer

The Company only provides and operates a place for the issuance, sales, and purchase of VALU and Event Ticket by Users. The decision to purchase VALU and/or Event Ticket is the sole responsibility of each User. The Company does not provide any guarantees regarding the Issuer’s profile and explanations, or the content of special privileges and Event Ticket including its authenticity, accuracy, validity or legality. In addition, the Company does not provide any guarantees regarding providing special privileges between Users and performing the Event.

The Company shall not be involved in or be held responsible for any troubles that may occur between Issuers, VALUERS, and concerned parties in relation to the sales and purchase of VALU or Event Ticket. Users are solely responsible for resolving and dealing with any issues which may arise in relation to the sales and purchase of VALU.

The Company shall not be held responsible for any damages incurred by Users due to purchase or sales of VALU or Event Ticket, a failure in such transactions, the value volatility of VALU (including effects of BTC’s volatility), or the default or tort in relation to the agreement between the Users of sales and purchase of Event Ticket or of performing the Event, unless such damages are caused intentionally by or by gross negligence of the Company.

Users understand that Users may be taxed for the use of the Services (including the case that future
legislation will apply), and shall comply with all applicable laws when using the Services. Users
are solely responsible for checking the possibility of taxation by their own, and the Company shall
not be held responsible for any matters in relation to the taxation to the Users.

The Company takes no responsibility for any damages which may occur to Users arising from the Services,
unless the agreement related to the Services between the Company and the User (including the Terms)
is defined as a consumer contract under the Consumer Contract Act.

Notwithstanding the foregoing paragraph, in any cases the Company is not responsible for damages incurred
by the Users due to special circumstances (includes cases in which the Company or the User foresaw
or could have foreseen such damages). In addition, compensation for damages to Users caused by the
Company's negligence (not including gross negligence) or tort shall not exceed the total amount of
payment for issuance of VALU or other transactions that is actually received by the Company from
the damaged User within the period of 1 month prior to happening of the cause of such damages.

13. Suspension or Interruption of The Services

The Company may suspend or interrupt all or a part of the Services for any of the reasons outlined below without providing
prior notification to Users. The Company will not be held responsible for any damages incurred by
Users due to such suspension or interruption of the Services.

If the operation of the Services becomes not feasible due to failure or malfunctions of servers,
transmission lines, or other equipments or any other causes.

If any troubles, service suspension, interruption, suspending connection to the Services, or
change of specification occurs to external social networking services linked to the Services.

Any other operational or technical reasons that the Company deems require a temporary interruption
of the Services.

13-2. Treatment in a Case of terminating the Services

The Company may, at its sole discretion, terminating the Services due to various situations including the usage of the Service, the finance of the Company, applicable laws and regulations, etc.

When terminating the Services, the Company will notify the Users of such termination by the way that the Company deems appropriate such as posting on the website and application, sending the letter or email, etc.

When terminating the Service, all information regarding the Users will be destroyed after a certain parole period. However, the Company may retain all or part of such Users’ information to the extent necessary to comply with the Article 7.

VALU and the privilege that the Users possess may be transferred and retained out of the Services only when the Services are terminated and by the way designated by the Company. If any of VALU is not transferred out of the Services by the designated time by the Company, such VALU shall be void and disappear at the time of terminating the Services.

BTC that the Users possess in the Services may be transferred out of the Services by the designated time by the Company. The User acknowledges and agrees that any of BTC that is not transferred out of the Services by the designated time by the Company shall be deemed abandoned by such User and the Company may use, dispose, or etc. such BTC at its sole discretion.

14. Changes to the Services and the Terms

The Company may make a change, adding, or abandonment (hereinafter "Change, Etc.") of the content of
the Services and the Terms at any time. If such Changes, Etc. to the Services or the Terms significantly
affects the Users, the content of such Changes, Etc. will be posted on the Company's website, and
the Users are responsible for checking the Changes, Etc. If the User uses the Services after the
Changes, Etc. to the Services and/or the Terms, such Users are deemed to have checked and agreed
on the Changes, Etc.

The Company shall not be held responsible for any damages incurred by the Users due to any measures taken
by the Company in accordance with this Section, unless such damages are caused intentionally by or
by gross negligence of the Company.

15. Intellectual Property Rights

The copyrights (including rights defined in article 27 and 28 of the Copyright Law, the same applies
below), patent rights, utility model rights, trademark rights, design rights, and all other intellectual
property rights (including the right to acquire those rights or rights to register those rights)
regarding the contents on the Services belong to the Company or third parties with which the Company
has been licensed by. Users may not use, disclose, or let someone use such contents, unless Users
have acquired permission from the Company and the third parties with which the Company has been licensed
by, or used the content within the scope of personal use as defined by Copyright Law.

All photos, information, etc. posted by Users on the Services may be used by the Company for the purpose
of advertising and/or operating the Services.

Users are solely responsible for any communications or postings of contents in relation to the Services.
The Company does not verify, warrant, nor represent quality, authenticity, accuracy, validity, or
legality of such communications or postings, or whether they infringe upon the rights of third parties,
and the Company shall not be held responsible for any consequences in relation to such communications
or postings.

Users are solely responsible for determining the quality, authenticity, accuracy, validity, or legality,
etc. of any communications or postings by other Users. Users shall not take any actions that infringe
or may infringe upon the copyright or any other rights of such contents. The Company shall not be
held responsible for any damages that may arise from the use of the Company's contents by Users or
third parties.

If the Company deems that the Users has violated the Terms, or have taken actions inappropriate in light
of the Terms, the Company may change or delete any contents posted by such User with no prior notification.

16. General Provisions

All notifications and communication from the Company to the Users will be provided in a suitable location
within the website or application operated by the company, or by any other ways as deemed suitable
by the Company. If the Company deems it necessary to notify or contact individual Users, the Company
may do so by using the email address, residential address or telephone number that are provided for
the User Registration. The Company shall not be held responsible for any damages which may arise
from non-delivery or delays of the Company's notifications or communications.

In a case that any of the provisions or sections of the Terms are found to be invalid or unenforceable
by the Consumer Contract Act or any other applicable laws and ordinances, the remaining sections
of the Terms shall remain fully valid and effective, and the Company and the Users shall modify and
interpret such invalid or unenforceable part of the Terms in order to retain the effectiveness financially
and legal equivalent to the whole Terms.

Users shall follow the Company's instructions in a a case that there happens to be matters not stipulated
in, or any questions regarding the interpretation of the Terms. If such actions do not resolve the
situation, the Company and the User shall make their efforts to consult with each other in a good
faith and promptly resolve the situation.

17. Damages and Claims

In a case that the User violates the Terms or any other guidelines and the damages are incurred by the
Company or a third party, the Users shall compensate such damages.

The Users are solely responsible for any matters in relation to the transactions between Users (including
but not limited to sales and purchase of VALU, approval or disapproval of purchase and sales of Approval-VALU, and setting and provisions of privileges). The Company,
in principle, will not be involved in any troubles between Users. The Company is not obliged to be
involved in any troubles between Users and the Users shall not request the Company for any actions
in order to resolve such troubles. However, the Company may, with its full discretion, intervene
in the troubles between Users if the Company deems it necessary for the smooth operation of the Services.

The Company does not provide any third parties (including other Users) with personal information acquired
in accordance with the Terms and its privacy policy, unless otherwise stated. However, the Company
may disclose such personal information to third party to the extent necessary in order to comply
with the legal obligation if such disclosure is based on the enforceable laws or orders including
order by the court, prosecutor’s office, or any administrative bodies, and the request for information
in accordance with any applicable laws including Article 23-2 of Attorney Act.

18. Governing Law and Jurisdiction

The Terms shall be interpreted and construed by the laws of Japan, regardless the conflicts of laws principles.
Any disputes arising out of or in relation to the Services or between the Company and the User shall
be subject to the exclusive jurisdiction in the first instance of Tokyo District Court of Japan.

II Event and Event Tickets19. Event Ticket

The User(s) may issue and sell the tickets for the event organized by the User (the “Event
Ticket”) to other Users in accordance with this Terms. The User who organizes the event is referred as “Event Organizer”.

If the Event Organizer is the Issuer, such Event Organizer may set the requirement of having a designated number of MY VALU issued by the Event Organizer
in order to purchase the Event Ticket.

The User who has not finished identity verification and email verification may not issue Event Ticket as Event
Organizer.

The Event Ticket shall be valid for 3 months or less since its issuance. The Event Organizer may issue
the Event Tickets only for the event within 3 months since the issuance.

In a case that the User who purchased the Event Tickets withdraw from the membership of the
Services before the event, such Event Tickets shall become invalid. Also the User may not use
the Event Tickets if the User is taken actions including suspension of the membership and the
Company shall not be held responsible for such consequences including refund of the Event
Tickets.

Contractual relationship for sales and purchase of the Event Tickets and the service of
organizing the Event solely exists between the Event Organizer and the User, and the Company
is not a party of such relationship. The Company, as a platformer, provides a platform for sales
and purchase of the Event Tickets on the Services, and make an agency payment by the Company or
subcontracted agency. Unless otherwise clearly stated in the Terms, any disputes in relation to
purchase of the Event Ticket and/or organizing the event shall be settled between the Event
Organizer and the User at their own costs and responsibility.

20. Event Registration

The User who wishes to sell the Event Ticket shall apply with the information of the
planned event including the below items in accordance with our designated process, and obtain
approval from the Company.

Name of the Event

Content of the Event

Date, time, and place of the Event

Payment method (BTC or credit card)

The number of total Event Tickets

The number of Event Tickets that each User may purchase

Whether to have requirement of having MY VALU, and if yes, the number of MY VALU per User in order to purchase the Event Ticket

The price per Event Ticket (including tax in the case of JPY)

The preferred date of starting sales of the Event Ticket

The end time to purchase the Event Ticket

The date of the event that shall be within 90 days since the application of the event registration

In a case of the first event registration for the Event Organizer and the payment for the
Event Ticket will be made by credit card, such Event Organizer shall, In addition to the items
listed in 20.1., register the financial account information that will be necessary to receive
payment of the Event Ticket revenue (bank, branch, account type, account number, account name,
etc.) in accordance with the Company’s instruction. Such registered information will be used for
the second or later sales of the Event Tickets. Event Organizer shall notify the company of any
change on the registered financial account information in accordance with the Company’s
instruction. The Company shall not be held responsible for any damages incurred by the Event
Organizer who did not promptly or properly notify the Company of such change.

In a case that any of the financial account information above is incorrect, the Company
shall not be held responsible for the damages incurred by the Event Organizer in relation to the
troubles including delay of payment from the Company to the Event Organizer and no payment from
the User who participates the Event. Also, the Event Organizer shall be fully responsible for
any damages incurred by the Company or the third party in relation to such troubles.

The Event Organizer shall not register the Event that the Company deems possibly falling
into one of the below categories that;

violates laws and regulations and/or the Terms;

aims solicitation of a certain idea, religion, or organization;

is against public policy (e.g., meeting up for sexual relationship);

the registered information of the Event contains any illegal, false, or incorrect,
information;

deals with the products without any shipment, such as downloading of the software;

relates to any of the criminal behaviors including fraud, abuse of controlled
substances, prostitution, money laundering;

relates to multi-level marketing or commoditized information;

includes the solicitation of using any other services than the Services;

the Company deems it inappropriate in terms of the Services’ intent and/or
purpose;

includes the solicitation of using any other services than the Services by
introducing campaigns or other means; or

the Company deems it possibly falling into any of the above categories.

The Company will, by its sole discretion, review the applied information and notify the
User of the result within 5 business days since the User completes the
application of the Event. The reasons for not approving the application of the Event includes:

lacking any required information; or

falling into any of the categories listed in 20.4.

The Company does not warrant or represent that the User may register the Event or that
the User holds the Event. Whether to approve the Event or not solely depends on the
Company’s discretion in accordance with this Terms and the Company shall not be held responsible
for the result of its review.

21. Release and Management of Event Information

In a case that the applied Event is approved, information of such Event may be released on the Services
and the Event Organizer may issue the Event Tickets in accordance with this Terms.

Event Organizer may assign another User to manage the information of the registered Event.
Such User is called “Sub-Organizer.”

Event Organizer and Sub-Organizer shall not include any items listed on 20.4. in the
information of the Event. Also, they shall comply with any applicable laws and regulations
including Act on Specified Commercial Transactions and Act against Unjustifiable Premiums and
Misleading Representations in terms of managing information of the Event and organizing the
Event.

Event Organizer and Sub-Organizer shall responsibly deal with any inquiries about the
Event. The Company is not responsible for dealing with those inquiries.

The Company is not obliged to provide any advice on legality, permission, or compliance of
the Event to the Event Organizer or Sub-Organizer.

22. Purchase of Event Ticket

The User who wished to purchase the Event Ticket shall order the purchase on the Services in accordance with the
Company’s instruction and, at the time of completing such order, the sale and purchase agreement
between Event Organizer and the the User shall become effective.
However, if such User does not meet the requirement of having a designated number of MY VALU if required,
such User may not purchase the Event Ticket.

The Company will notify the Event Organizer of User ID, name on the Services, purchasing
amount and date of the purchasing User. Also, there is a case that the Company disclosed such
information due to reasons that the Company deems necessary, such as requests from governmental
authorities, financial institutions, bar associations, etc.

In a case that the registered end time of selling the Event Ticket has passed, the Company
may case the sales of the Event Ticket without prior notice.

Purchase of the Event Ticket can be made only by the payment method designated by the
Event Organizer that is BTC online payment system or a credit card. The Company will take a fee
below per sales and purchase of the Event Ticket:

[Credit Card (JPY)]

10% of the price of Event Ticket
+ 80JPY per Event Ticket (except a case that the Event Ticket is sold for free)
+ transmission fee 258JPY (including tax)

[BTC online payment]

8% of the price of Event Ticket (The Company may wave this fee temporarily.)

The Event Organizer shall assign the payment processing vendor designated by the Company
(“Payment Vendor”) to receive the payment for the Event Ticket on behalf of the Event Organizer,
and the payment shall be deemed effective and complete when the Payment Vendor receives payment
from the User who wishes to purchase the Event Ticket.

Payment for the Event Ticket will be transmitted to the Event Organizer approximately 1
week after the Event, after deducting the fee mentioned in 22.4. by the corresponding method of
payment that the Event Organizer chooses. A transmission fee shall be owed by the Event
Organizer.

Event Organizer agrees in advance that in a case that the amount of payment that should be
made after deducting the all relevant fee is not more than 0, Event Organizer waives the right
of receiving such remaining amount of payment.

Once it becomes effective, any sales or purchase of the Event Ticket cannot be cancelled
regardless of the reasons. Any disputes arising in relation to the sales and purchase of the
Event Ticket shall be resolved between the Event Organizer and the purchasing User.

Notwithstanding the foregoing, in a case that the Company deems it necessary for the
protection of the consumers or that this Terms clearly state so, the Company can return the
payment for the Event Ticket at its sole discretion only if the payment to the Event Organizer
under 22.5. has not completed. The Company is not obliged to take such action unless it is
clearly stated in this Terms.

The User who purchased the Event Ticket cannot assign, transfer, put in a mortgage such
Event Ticket, regardless with the payment or for free.

The User who is blocked by the Event Organizer cannot purchase the Event Ticket sold by
such Event Organizer.

23. Use of Event Ticket

The Event Ticket can be used per the Company’s instruction.

The Event Ticket shall not be used in any other ways than the Company’s instruction.

In a case that the Event allows a purchase of multiple Event Tickets, anyone can
participate such Event as accompanied participant(s) with the purchasing User within the number of the
purchased Event Tickets.

We hope our Users to organize the Event safely and smoothly. If you are blocked by the
Event Organizer, we sincerely recommend to refrain from participating the Event of such Event
Organizer as a accompanied participants.

24. Cancellation and no-holding of Event

Once registered, the Event Organizer cannot cancel the Event and the Company will not
return the payment for the Event Ticket(s).

Notwithstanding the foregoing, the Company will return the payment for the Event Tickets
in accordance with the process separately set forth by the Company, if;

the Event Organizer applies for the cancellation of the Event in accordance with the
process set by the Company by 1 day before the Event; or

the User who purchased the Event Ticket reports the Company within 5 days since the
date of the Event that the Event was not held, and the Company reasonably confirm such
no-holding.

The Company is entitled to seek for the damage compensation to the Event Organizer for the loss and transmission cost
incurred in relation to the return of the payment in 24.2., by payment the amount equivalent to
5% of the price of the sold Event Tickets. The Company may claim more damages if any.

The Event Organizer agrees in advance that the Company can offset the above damages with
the BTC that the Company holds for the Event Organizer. The rate for such offset shall be the
rate that the Company deems it reasonable at the time of the offset.

The Company can inquire the Event Organizer and the Sub-Organizer about the date, place,
attendance, etc. of the Event as a result. When inquired, the Event Organizer and the
Sub-Organizer shall promptly response to such inquiries and submit the evidence of holding the
Event including the Event photos if requested. If no response is provided by the Event Organizer
and the Sub-Organizer within the reasonable period, the Company can deem at its sole discretion
that the Event was not held.